Goldman Sachs Downgrades Swiss Re Stock

Reuters news service reports that Goldman Sachs on Thursday cut its recommendation for shares in Swiss Re (RUKZn.VX).Swiss Re, the world's number two reinsurer, was downgraded to an "underperform" from "in-line", which means that the stock was expensive relative to the sector.Recent Swiss Re comments also led Goldman analysts to believe the current cycle of firming prices and demand for property/casualty cover would soften earlier than originally thought.Standard & Poors recently commented that the reinsurance market is still out of balance, that prime ratios remained high, and that the indust...